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Imprest Definition – let’s Make out in the Main Idea of the Imprest Term!

What’s the point of the Imprest system and what is the Imprest definition...


So, this is the Imprest definition and the main idea of the banking loan accounting system that will become the most favorite one of any company or department and that will even please the individual....
In other words, Imprest definition main idea is the petty cash system according to which you can easily control all your payments and buy whatever you’d like that costs lower than 100 bucks as $100 is a limit that can’t be exceeded in most cases if speaking about Imprest system...
So, these were top 10 imprest system definitions taken from the Internet and processed from the online dictionaries and banking portals...

Imprest definition variety – top 10 Imprest system explanations:

  • The first Imprest definition says that Imprest system is a special kind of a financial accounting system based on a petty cash system principle...
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    Free Checking Account

    Low-income clients should not invest money in the banks which don’t provide interest rates for low balance accounts...

    What Does A Checking Account Mean

    Though many people know what a bank account is, the notion of a “checking account” may still be not very clear...


    Some banks offer high interest checking accounts, which can bring a good profit provided that the balance and income are high enough...
    Some banks refund such fees, especially when it comes to free accounts...


    Rates of interest, terms of checking accounts are not the same in different banks...
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    Imprest Cash Funds

    Imprest Cash Funds must not be maintained in checking or other bank accounts without specific authorization from the Treasurer’s Office...


    Original receipts or suitable evidence of payment must be obtained for each cash expenditure or incidental purchase made from an Imprest cash Fund...
    The Imprest Cash Fund represents a loan (or advance) to a department, so the department must designate a custodian to sign the Imprest Change Fund Agreement Form when the fund is established, to safeguard and account for the Fund during its existence, and ultimately repay the advance when the need for the fund no longer exists...


    Imprest Cash Fund Guidelines

    The following guidelines must be adhered to in the operation and disbursing of Imprest fund cash:

    When a new fund is requested or a new custodian is appointed, whether a Petty Cash Fund or a Change Fund, an Imprest Cash Fund Request/Change Agreement form must be submitted and signed by the new custodian and a Higher Administrative Authority...
    An Imprest Cash Fund Change Agreement must be submitted for a vacation replacement custodian and a new form must be submitted when the original custodian returns...
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    Main Issues on Imprest Money System

    Today Internet is full of questions: what is Imprest money? In fact, Imprest money is also called petty cash the main feature of which is an Imprest one...


    Imprest and Non-Imprest money

    Lots of people wonder what the difference between Imprest and non-imprest systems is...


    There is also an important term called petty cash book that looks like a usual book managing any institution or establishment petty cash recording every day routine transactions made on the Imprest account...
    Moreover, Imprest system implies all the expenditures being fixed in documents that means high level of control system...


    How Imprest money works?

    According to the system the manager is required to give documents proving his expenditures...
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    Checking Account

    What is a Checking Account

    Many of us have a good understanding of bank accounts, but some of us may aks what is a checking account ? It is a bank account, which deposit holders can use for their most common transactions, which include bill payment, purchases, etc...


    There are lots of types of checking accounts, and different banks offer different terms...
    compare checking accounts offered by your chosen banks...


    High interest checking accounts are offered by online banking services...
    With checking accounts growing more and more popular, many banks offer user friendly online services with lucrative checking account rates ...
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    Merchant Services

    You can also use such services as PayPal, or 2CheckOut that usually link with your bank account and provide the ability to process multiple card payments...
    You can also take advantage of such merchant card services as PayPal, 2CheckOut, or Google Checkout that allow you to accept unlimited payments without the need to open a merchant account with your bank or other payment processing company...


    Total Merchant Services

    Let’s compare merchant services to give you a clear idea of what provider you should choose...
    As a rule, you will need to file an application with an acquiring bank that will be used to settle your card transactions...


    Merchant Service Account

    A merchant service account represents a bank account that businesses would normally use to accept payments made by means of credit and/or debit cards...
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